SAG INFOTECH PVT. LTD per Companies act 2013 and as per Income Tax Act 1961. Select Block of assets :For auto calculation of rate and Depreciation. ... SAG INFOTECH PVT. LTD

SAG INFOTECH PVT. LTD

Help Manual

For

Fixed Assets Register

SOFT SOLUTION FOR THOSE WHO

CAN”T AFFORD TO MAKE ERROR

Select Company for which you want to prepare Fixed Assets Register and

Financial year:

After selecting company and financial year select Fixed

Assets

Depreciation as per Schedule XIV of Companies Act 1956 (Old

Format):

Select Company and Financial year before 2014-15

Insert details of Assets Purchased with required particulars, If assets is purchased prior

to selected year than user have to fill depreciation amount up to selected year, so that

user can calculate depreciation for current year of assets previously acquired.

Select block as per companies act 1956 for auto calculation of

Depreciation rates

After selection of block and depreciation method click on update

button to check depreciation calculation

If you want to check depreciation calculation Go to Depreciation

Calculation and check Report of depreciation calculation

Depreciation calculation as per Companies act 2013 (According to Schedule

II)

Prerequisites :

Financial year should be on or after 2014-15 and Block selection should be

based on Schedule II

Fill the particulars

Fill details of particulars : Like name of assets purchased ,date of put to

use, useful life of assets to calculate rate of depreciation as per Cost,

select Companies act 2013

Select block according to new schedule II of Companies Act 2013 for

Auto calculation Of useful life and rate of Depreciation as per selected

method of depreciation

Select method of Depreciation and block/Group of assets:

Selection of category of assets from the list for auto calculation of

useful life and depreciation rate to calculate depreciation as per

companies act 2013

Auto calculation of rate, Residual value, and life

If you want to change depreciation amount which is calculated by

software then you can edit the depreciation amount by clicking on

set manual depreciation

Select the assets of which you

want to edit depreciation amount

After selection of assets software

will allow you to edit depreciation

amount

Change of depreciation

from 8681 to 10000 Rs.

Impact of change in depreciation

amount will now reflected in

depreciation calculation and

depreciation register

When you want to change financial year from one year to another you can

set depreciation rates

For example: if you want depreciation rates of financial year 2015-16 same

as applicable on FY 2014-15 simply click on Set Depreciation Rates and

click on update option otherwise in case of change in depreciation rate ,edit

rates and update the same for future correspondence

Same depreciation rates as per old FY

Edit depreciation rates as you want

Details Of Vendor From which assets has been purchased including

Bill No.& Bill Date

Location Master :Insert details of Location and Department

To know for which Department assets is being used, whether assets has

been transferred from one department to another? if yes then furnish

.details of new location

Details of Assets sold during the year:

If assets are sold during the year user have to furnish details like date of sale,

expenses on sale and sale realisation

Details of Revaluation:

If assets are revalue during the year then user should furnish details of

revaluation whether revaluation is upper side or lower side

Details of Insurance of the assets:

If any insurance has been taken for the assets then user can furnish details of

Insurance premium paid and renewal of insurance .

If renewal date is inserted then software will remind you to pay insurance on next

renewal date

Details of Shift :

If assets has been used in shifts then user can choose shifts for

calculation of shift wise depreciation

Dep as per Income Tax Act:

In our software we are providing you both facilities to calculate depreciation

as per Companies act 2013 and as per Income Tax Act 1961

Select Block of assets :For auto calculation of rate and

Depreciation

Auto calculation of rates as per income tax act

1961 according to selection of block

Auto calculation of Dep as per income tax act

Set new block/method/rates:

If assets are previously acquired and block which are selected are old as per

Companies Act 1956 then user can use this option to map old blocks with

new block of assets as per companies Act 2013

Mapping of old Dep block to new dep block of existing

assets:

Old Block and

Depreciation Rate as per

Companies Act 1956Selection of New Block of

assets as per Companies

Act 2013

Selection of category of

assets with useful life and

rate as prescribedMap with new

Mapping

Reports:

Dep Calculation :

Fixed Assets Register : According to assets inserted user

can view fixed assets register

Continue….

Assets Revaluation Register:

If assets is revalue during the year user can check the assets revaluation

register

Assets Acquisition Register:

Through this register user can check the data of assets acquired during the

year

Yearly Depreciation Register:

For detailed view of yearly depreciation assets wise

Assets Disposal register :

To check assets which are disposed during the year

Assets Transfer Register :

To view report of transfer of assets from one location to another

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Thank You..